Thor Explorations Ltd.

November 17, 2011 14:10 ET

Thor Announces New Directors Appointed to Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2011) -


Following Thor Explorations Ltd.'s (TSX VENTURE:THX) ("Thor" or the "Company") Annual General Meeting on November 17, 2011, the Company is pleased to announce the addition of Mr. Edward Marlow and Mr. David Cohen to the Board of Directors.

Mr. Marlow is the Chairman and CEO of African Potash Limited and until recently, he was a Managing Director at Credit Suisse. Previously he was Global Head of Coverage for Principal Investments at HSBC. In September 2007, Mr. Marlow founded HSBC's Principal Investments Africa team having worked and travelled extensively in Africa for more than 20 years. He has over 9 years of specific investment and advisory experience in sub-Saharan Africa with a particular emphasis on natural resources. Mr. Marlow also has considerable experience in the Canadian resource market and is Chairman of Sanatana Resources Inc. (TSX). He was formerly on the boards of ESO Uranium (TSX) and Kopane Diamonds (AIM). An ex British Army Officer, he has an MBA from Cranfield University, a PGDipL from the University of Northumbria, is a graduate of the US Army CGSC and Manchester University and is a member of the UK CFA Society. During his career, Mr. Marlow has also worked for Insinger De Beaufort, UBS and Citigroup.

Mr. Cohen is the co-founder and Chairman of Eastern Platinum Ltd., one of the larger global platinum producers with operations in South Africa. He was the Co-Founder, Chairman and Chief Executive Officer of Gold Wheaton Gold Corp. from July 2008 until March 2011, when Gold Wheaton was acquired by Franco-Nevada for $1 billion and prior to that, from August 2002 to October 2007, he was a co-founder, President and Chief Executive Officer of Northern Orion Resources Inc. which was subsequently acquired by Yamana for $1.5 Billion. He has over 25 years of global experience and has raised in excess of $2 Billion in equity; $300 million in debt for public resource ventures and is a director of a number of other public and private companies.

Mr. Sargent Berner and Mr. Stephen Barley had chosen not to stand for re-election at the Company's Annual General Meeting. The Company wishes to thank Mr. Berner and Mr. Barley for their contributions to the Company over the years. The Company's board of directors now consists of Mr. Edward Marlow, Mr. David Cohen, Mr. Kurt Bordian and Mr. Gareth Northam.

The Company also wishes to announce the grant of 575,000 stock options pursuant to its previously approved stock option plan to directors and consultants of the Company. The options were granted at an exercise price of $0.16 per share for a period of five years. The options remain subject to the approval of the TSX Venture Exchange.

Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented constitutes "forward looking statements". Such forward-looking statements, including but not limited to those with respect to the closing of the Transaction, the exercise of the Option Agreement, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Shares Outstanding: 47,661,908

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Thor Explorations Ltd.
    Kathleen Butt
    604-639-4670 (FAX)